MDB Double Benefit Plus Scheme

MDB Double Benefit Plus Scheme Account is a scheme account, which comprises of a primary deposit and monthly installment till maturity period. It is a monthly interest bearing and yearly interest paying scheme account for any Bangladeshi Citizen.

  • Any Bangladeshi citizen can open this account.
  • In case of minor account, legal guardian will operate the account on behalf of the minor until
    the minor reaches the age of 18.
Joint Application
  • This scheme can be opened in single name or in joint names.
  • All MDB branches, Sub-branches and Agent Banking Centers.
Product Description
  • This account is in local currency (BDT).
  • This is a Non-Transactional savings scheme.
  • The primary deposited amount will be doubled after 3/4/5/6 years (as preferred by the
  • Minimum primary deposit amount will be 25,000 and its multiples. Equal monthly
    installment to be paid till maturity.
  • Customer will deposit monthly installments through linked individual CASA.
  • More than 01 (one) account can be opened by the same customer.
  • Free internet banking facility.
  • Free SMS banking facility.
Monthly amount to be deposited
Account Opening Process and
Required Document
  • Bank’s prescribed Scheme Account Opening Form (AOF).
  • The documents required to open this account and account opening procedure shall strictly
    follow MDB Branch Operations Manual, MDB Comprehensive Account Opening
    Documentary Checklist and Bangladesh Bank guidelines that may change from time to time.
Interest Accrual & Payment
  • Interest will be calculated at the end of month and applied to the account at the year-end or
    at maturity whichever is earlier.
Amount Payable
  • On maturity, primarily deposited amount (without first instalment) will be doubled and final
    payment will be made after deducting taxes & duties applicable as per rules of NBR.
Account Nominee
  • Multiple nominees are allowed as decided by the account holder(s) for each account.
  • Nomination will be cancelled if nominee(s) dies in the life time of
    account holder(s). The account holder(s) in such cases will advise in writing to appoint new nominee(s).
  • In case of minor nominee(s), a legal guardian is also required with Photograph and photo
Installment Failure & penalty
  • Late fees will be charged per month for failure to deposit the instalment in time as per MDB rules.
  • If 6 (six) installments become overdue at any point of time, then the scheme will be halted.
    Customer will visit branch and submit closure request for closing of the scheme.
Maturity & Closing
  • 3/4/5/6 years from the date of A/C opening. However, if any installment is pending at the
    time of maturity then the scheme will be closed after 1 month from the date on which all
    installments have been realized.
  • Customers can close the scheme account any time before maturity. In case of premature
    encashment, ‘Premature Encashment’ rule will be applicable.
  • Account closure Fee is NIL.
Taxes, Duties and Surcharges
  • All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed
    by the Government of Bangladesh from time to time will be deducted/ recovered from the
    deposit account under this scheme.
Premature Encashment
  • If encashed before 1 (one) year then no interest will be paid.
    If encashed after 1 year and before the expiry, then interest will be paid as per savings a/c
    interest rate.
Maximum Limit
  • There is no maximum limit under this product. Amount has to be BDT 25,000.00 or its
Loan Facility
  • Loan may be granted up to 90% of the deposited amount.